Shaughnessy Market Summary
What a ride it has been selling real estate in Shaughnessy. The last 30 months we have seen 4 record breaking months of 18 & 19 sales. We saw a collective increase in HPI price index of 25% from January 2014 ($4M) to January 2016 ($5M). In the last 10 months we saw an increase of 30% in HPI price index, from $5M to $6.583M. We saw a significant drop in sales volume (40%) in the last 3 months (Aug to Oct) compared to the same period last year and 29% decrease from same period in 2014. Limited inventory of houses for sale was an interesting stat in 2016 as our peak of 89 houses for sale in February vs 109 in May 2015.
Currently for sale
Detailed: 41 under $10M 9 for sale under $5M | 6 between $5M-6M |10 between $6M-7M | 6 between $7M-8M | 6 between $8M-9M | 4 between $9-10M
10 between $10-15M | 8 between $15-20M | 1 $20M+
34 built after 1940, 26 built prior to 1940
Median Days on Market - 81
Sold Data Summary
3 Sold in the last 30 days, 5 in the last 60 days, 14 sold in the last 90 days, 34 sold in last 6 months, 117 sold in the last year.
Detailed: 34 sales in the last 6 months
30 sales under $10.2M. Summary: 13 – less than $6M, 7 - $6-7M, 5 $7M-8M, 4 $15-17M
Lot Size Sales: 17 – under 10k sq ft, 13 between 10-20k sq ft, 3 between 20-26k sq ft, 1 – 34,000 sq ft
11 sold in 1st Shaughnessy District (16th to King Edward), 23 sold in 2nd Shaughnessy District (King Edward to W 41st).
Median Days On Market - 24
Nov/Dec/Jan: 2013 – 34 sales, 2014 – 27 sales, 2015 – 38 sales. As you can see, these 3 months have experienced STRONG sales results. February has also been a historically strong month for sales in Shaughnessy.
Lower inventory levels, lower sales volume, and continued strong pricing in Shaughnessy. 87% of sales in the last 6 months have been under $10M.
Late months of the current year and early in upcoming year have showed consistent sales volume. If you are planning to sell in 2017, we recommend you have a plan in place to list your home as soon as possible to take advantage of the low inventory (competition) and consistent sales activity.